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金斯瑞生物科技(01548) - 2022 - 年度财报
GENSCRIPT BIOGENSCRIPT BIO(HK:01548)2023-04-28 08:07

Financial Performance - Total revenue for the year ended December 31, 2022, was approximately $625.7 million, representing a 27.7% increase from about $490.1 million for the year ended December 31, 2021[14]. - The adjusted net loss for the year ended December 31, 2022, was approximately $359.4 million, compared to an adjusted net loss of about $327.8 million for the year ended December 31, 2021, reflecting an increase in adjusted net loss of 9.8%[13]. - The gross profit for the year ended December 31, 2022, was approximately $304.1 million, up 7.6% from about $282.5 million for the year ended December 31, 2021[14]. - The external revenue from the non-cell therapy business was approximately $509.0 million, a 19.8% increase from about $424.7 million for the year ended December 31, 2021[14]. - The external revenue from the cell therapy business was approximately $116.7 million, which is an increase of 78.4% compared to about $65.4 million for the year ended December 31, 2021[14]. - The company reported a five-year revenue growth from $578.4 million in 2018 to $625.7 million in 2022, indicating a consistent upward trend in revenue[16]. - The company reported a net loss attributable to the owners of the company for the year ended December 31, 2022, was approximately $226.9 million, a decrease from a net loss of about $358.7 million for the year ended December 31, 2021[13]. - The total loss for the year ended December 31, 2022, was approximately $428.0 million, down from a loss of about $518.3 million for the year ended December 31, 2021[14]. Revenue Breakdown - The four main business segments generated external revenues of approximately $349.8 million (55.9%), $120.2 million (19.2%), $38.2 million (6.1%), and $116.7 million (18.7%) respectively[6]. - Sales to the United States, Mainland China, Europe, Asia-Pacific (excluding Mainland China), and other regions were approximately $332.1 million (53.1%), $166.7 million (26.7%), $53.3 million (8.5%), $59.0 million (9.4%), and $14.6 million (2.3%) respectively[8]. - The life sciences services and products segment generated revenue of approximately $360.5 million, a growth of 14.2% from approximately $315.8 million for the year ended December 31, 2021[35]. - Revenue from biopharmaceutical development services reached approximately $125.0 million, a 53.6% increase from $81.4 million in the previous year[38]. - Cell therapy revenue was approximately $117.0 million, a 70.0% increase from $68.8 million in the previous year, primarily driven by collaboration revenue from CARVYKTI commercialization[45]. Operational Developments - The CDMO platform is expanding its global GMP capacity and commercialization network to meet customer demands for phased delivery and mid-to-large scale production[7]. - The company expanded its overseas production capabilities in New Jersey and Singapore to enhance service levels and customer experience, addressing global supply chain vulnerabilities[20]. - Kingsray plans to improve the efficiency of its overseas production to match domestic costs, focusing on logistics cost reduction and talent retention[21]. - The company aims to enhance global production capacity and optimize logistics through local supply chain solutions to support long-term business growth[36]. - The company plans to expand services to biopharmaceuticals and GCT late-stage development and commercialization through new facility investments[39]. Research and Development - The company is focused on creating positive social impact through its innovative healthcare solutions, exemplified by the launch of CARVYKTI[17]. - The biopharmaceutical development services segment provided comprehensive services for antibody drug discovery and development, aiding biopharmaceutical companies from early drug discovery to clinical development[37]. - The company is developing a comprehensive early-stage autologous CAR-T candidate product portfolio targeting various cancers, including non-Hodgkin lymphoma and pancreatic cancer[47]. - The company plans to invest further in platform upgrades and quality improvements to support business growth[39]. - Research and development expenses increased by 8.8% to approximately $390.1 million in 2022, driven by continued investment in competitive talent and stock compensation[54]. Financial Position and Investments - Cash and cash equivalents were approximately $1 billion as of December 31, 2022, down from $1.2 billion in 2021, while restricted cash increased to approximately $27.2 million from about $1.4 million[68]. - Significant investments held as of December 31, 2022, totaled approximately $222.5 million, a substantial increase from $42.6 million in 2021, with a notable rise in current financial assets at fair value[71]. - The company has established its financing platforms for its growing business segments, allowing for strategic investments when market conditions improve[22]. - The company has successfully raised additional funding for its burgeoning biopharmaceutical CDMO business, aiming to establish it as a mature independent entity in the coming years[22]. - The company reported an operating loss of approximately $458.1 million, compared to a loss of $394.0 million in the previous year, with R&D expenses of about $335.6 million[46]. Market and Competitive Landscape - The company continues to face a challenging macroeconomic environment, with high inflation and geopolitical tensions impacting investor sentiment in the biotechnology sector[18]. - Kingsray emphasizes the importance of high-quality, differentiated products and services to help clients advance their projects and create commercial value[19]. - The company aims to enhance its commercial capabilities to increase market share, focusing on large clients and overseas markets in the synthetic biology sector[42]. - The company is focused on expanding its market presence and enhancing product offerings through ongoing research and development initiatives[106]. - The company aims to enhance its business development activities and expand its market presence through strategic initiatives[171]. Governance and Management - The board of directors currently consists of 11 members, including 4 executive directors, 3 non-executive directors, and 4 independent non-executive directors[140]. - The company has expanded its board with experienced professionals from various sectors, enhancing its strategic capabilities[144]. - The company emphasizes the importance of risk management and strategic planning, with the executive director responsible for overall strategic development and investment mergers and acquisitions[142]. - The company has a strong emphasis on research and development, with significant investments in innovative biotechnological solutions[149]. - The company is committed to maintaining high standards in its operational and financial management practices to drive growth and sustainability[144]. Employee and Talent Management - The total employee count of the group is approximately 6,213, with labor costs amounting to approximately $440.0 million, representing about 70.3% of total revenue[133]. - The significant increase in labor costs is primarily driven by performance-based long-term incentives, which the company views as a necessary long-term investment in its talent pool[133]. - Continuous education and training programs are provided to employees to enhance their skills and knowledge, covering various aspects including technical knowledge and compliance training[136]. - The company is committed to providing statutory and supplementary insurance and benefits for its employees as per relevant regulations[137]. - The compensation policy for directors and senior management is based on the company's operational performance, individual performance, and comparable market data, reviewed regularly by the compensation committee[135]. Strategic Initiatives - The company aims to focus on the GCT field, developing innovative cell therapy products and related research and production technologies, viewing the GCT market as highly promising[128]. - The company plans to enhance operational efficiency through digital transformation and lean management systems, while expanding global production capacity to reduce supply chain risks[131]. - In the CDMO sector, the company will focus on optimizing biopharmaceutical production technology platforms and expanding expertise in commercial-stage production[131]. - The company is committed to investing in expanding GMP plasmid, viral vector, and mRNA production capacity to strengthen its position in both China and overseas markets[131]. - The company aims to enhance its competitiveness in synthetic biology by leveraging its bioinformatics platform, gene editing technology, and large-scale industrial fermentation[132].